Fresenius Medical Care AG & Co. KGaA (NYSE:FMS) Announces Quarterly Earnings Results, Beats Estimates By $0.16 EPS

Fresenius Medical Care AG & Co. KGaA (NYSE:FMS) announced its quarterly earnings results on Tuesday, February 24th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.67 by $0.16, Zacks reports. The firm had revenue of $5.95 billion during the quarter, compared to the consensus estimate of $4.80 billion. Fresenius Medical Care AG & Co. KGaA had a net margin of 5.03% and a return on equity of 8.73%.

Here are the key takeaways from Fresenius Medical Care AG & Co. KGaA’s conference call:

• Fresenius Medical Care reported an exceptional Q4 and full-year 2025, with Q4 organic revenue growth of 8%, adjusted operating income up 53%, Q4 margin of 13.9% and EPS growth of 68%, hitting the upper end of its 2025 outlook.
• The company generated strong cash flow (EUR 2.7bn in 2025), accelerated its EUR 1bn share buyback (repurchasing ~EUR 586m in 2025 plus additional tranches), raised the dividend and reduced net leverage to 2.5x.
• Under the new FME Reignite strategy Fresenius carved out Value Based Care and began a large-scale U.S. rollout of the 5008X machine (targeting ~20% of owned clinics in 2026, training >7,200 staff and transitioning ~36,000 patients); management calls this a long?term growth and outcome driver but expects rollout-related OpEx headwinds in 2026.
• Value Based Care is now a separate segment that generated >EUR 2bn revenue in 2025 and reached break?even for the year (Q4 operating income of EUR 29m), a material improvement from prior loss-making years.
• Management warned of near-term regulatory and phasing headwinds into 2026: strong 2025 tailwinds from TDAPA/phosphate binder and catheter-related payments (around EUR 220m + ~EUR 90m) will partly phase out, and China procurement/regulatory pressures imply a EUR 150–200m regulatory headwind for 2026 and a group margin outlook of 10.5%–12%.

Fresenius Medical Care AG & Co. KGaA Stock Up 0.7%

NYSE:FMS traded up $0.16 during trading hours on Thursday, hitting $22.42. The stock had a trading volume of 202,381 shares, compared to its average volume of 648,878. Fresenius Medical Care AG & Co. KGaA has a 1-year low of $20.94 and a 1-year high of $30.46. The company has a current ratio of 1.26, a quick ratio of 0.92 and a debt-to-equity ratio of 0.40. The company has a market cap of $13.00 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 2.10 and a beta of 0.91. The business has a 50 day simple moving average of $23.02 and a two-hundred day simple moving average of $24.15.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on FMS shares. Morgan Stanley reiterated an “underweight” rating on shares of Fresenius Medical Care AG & Co. KGaA in a report on Tuesday, January 27th. Truist Financial set a $28.00 price target on shares of Fresenius Medical Care AG & Co. KGaA in a report on Monday, January 5th. Jefferies Financial Group downgraded shares of Fresenius Medical Care AG & Co. KGaA from a “moderate sell” rating to a “strong sell” rating in a research note on Tuesday, February 24th. The Goldman Sachs Group cut shares of Fresenius Medical Care AG & Co. KGaA from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 20th. Finally, Wall Street Zen raised shares of Fresenius Medical Care AG & Co. KGaA from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 20th. Five research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, Fresenius Medical Care AG & Co. KGaA presently has a consensus rating of “Reduce” and a consensus target price of $28.00.

Institutional Investors Weigh In On Fresenius Medical Care AG & Co. KGaA

A number of institutional investors have recently modified their holdings of the stock. Morgan Stanley boosted its holdings in shares of Fresenius Medical Care AG & Co. KGaA by 47.2% in the 4th quarter. Morgan Stanley now owns 2,939,839 shares of the company’s stock valued at $70,027,000 after buying an additional 942,497 shares during the period. Bank of America Corp DE lifted its position in Fresenius Medical Care AG & Co. KGaA by 279.7% in the second quarter. Bank of America Corp DE now owns 337,316 shares of the company’s stock worth $9,637,000 after purchasing an additional 248,477 shares during the period. Integral Health Asset Management LLC boosted its position in shares of Fresenius Medical Care AG & Co. KGaA by 44.4% during the 4th quarter. Integral Health Asset Management LLC now owns 650,000 shares of the company’s stock valued at $15,483,000 after purchasing an additional 200,000 shares in the last quarter. Qube Research & Technologies Ltd boosted its holdings in Fresenius Medical Care AG & Co. KGaA by 175.3% during the second quarter. Qube Research & Technologies Ltd now owns 199,563 shares of the company’s stock worth $5,702,000 after buying an additional 127,073 shares in the last quarter. Finally, XTX Topco Ltd raised its holdings in Fresenius Medical Care AG & Co. KGaA by 743.3% during the 4th quarter. XTX Topco Ltd now owns 94,093 shares of the company’s stock worth $2,241,000 after buying an additional 82,935 shares during the period. Institutional investors and hedge funds own 8.37% of the company’s stock.

About Fresenius Medical Care AG & Co. KGaA

Fresenius Medical Care AG & Co KGaA is the world’s largest integrated provider of products and services for individuals with renal diseases. The company’s primary business activities encompass the operation of dialysis clinics and the manufacture and distribution of dialysis equipment, dialysis machines, dialyzers, consumables and related therapies. Through its global network of clinics, Fresenius Medical Care delivers comprehensive kidney care, including hemodialysis and peritoneal dialysis treatments, patient education and support services.

In its products segment, the company designs and produces dialysis machines, water treatment systems and disposables such as high?flux dialyzers and bloodlines.